Author: lbostgadmin
Sri Lanka IMF document suppressed by government decision: official
Sept 23, 2009 (LBO) – Detailed International Monetary Fund documents showing the underlying basis for a stand-by loan to Sri Lanka have not been released by a decision of the island’s government, an official said.A storm has brewing in Sri Lanka over the suppression of IMF documents. Muttukrishna Sarvananthan, from the Point Pedro Institute of […]
Sri Lanka under pressure from rights groups over war refugees
September 23, 2009 (AFP) – Human rights groups urged world leaders Wednesday to pressure Sri Lanka over the immediate resettlement of quarter of a million war-displaced civilians held in state-run camps.New York-based Human Rights Watch said the upcoming UN general assembly as well as the G-20 economic summit in Pittsburgh should address the plight of […]
Sri Lanka Dilshan attributes run rush to positional switch
CENTURION, September 23, 2009 (AFP) – Sri Lanka hero Tillakaratne Dilshan says switching from the middle to top order has helped develop him into a fearsome run machine.He scored 106 to set his country up for a surprise 55-run victory over hosts South Africa at SuperSport Park on Tuesday in the opening match of the […]
Chevron makes major new gas find in Bangladesh: govt
DHAKA, September 23, 2009 (AFP) – US energy group Chevron has made the biggest gas discovery in at least a decade in energy-starved Bangladesh, almost doubling the size of a field it is drilling there, a government official said Wednesday.The US firm has told authorities its Bibiyana gas field in Sylhet, northeastern Bangladesh, contains 6.6 […]
Regional Links
Sept 23, 2009 (LBO) – A South Asian broadband communication conference and expo to be held in Sri Lanka in October with speakers from the global industry will focus on investing, and cost and revenue models in the fast growing region.It will also cover how Next Generation Technology fits into the region, home to large […]
Watchdog Action
Sept 23, 2009 (LBO) – The Securities and Exchange Commission of Sri Lanka (SEC) has filed charges against two senior executives of Singalanka Standard Chemicals for falsifying accounts and forging auditors’ signatures.They had committed an offence under section 51(1) (b) of the Securities and Exchange Commission Act, the statement said.Singalanka Standard Chemicals said in a […]
Rebuilding Work
Sept 23, 2009 (LBO) – The Red Cross movement had spent 220 million US dollars to build 30,000 houses, upgrade healthcare centres, re-build water supply and drainage facilities in villages devastated by a tsunami in 2004, officials said.“The tsunami operation has been an unparalleled challenge for the Red Cross movement in Sri Lanka,” Paul Fmes, […]
Port Industries
Sept 23, 2009 (LBO) – The Sri Lanka Ports Authority (SLPA) says foreign investors are vying to put up fertiliser and cement plants and ship yards in a new port in Hambantota on the south coast. Wickrama declined to identify the investors as talks were going on. A request for proposals (RFP) inviting investments in […]
Sri Lankan stocks becalmed
Sep 23, 2009 (LBO) – Sri Lankan shares closed flat Wednesday as investors took profits while foreigners continued to be net buyers, brokers said.National Development Bank closed at 190.75 rupees, down 2.75, while Seylan Bank closed flat at 34.00 rupees. Retailer favorite Touchwood closed at 91.75 rupees, down 75 cents, while Lanka Cement closed flat […]
Sri Lanka 3-month bill yield in single digits
Sept 23, 2009 (LBO) – Sri Lanka’s 3-month Treasury bill yields fell 34 basis points to 9.70 percent at Wednesday’s auction, the government’s debt office said. The debt office, which is a unit of the Central Bank said out of 9,500 million rupees maturing bills 9,500 million rupees’ worth had been sold to the market. […]
Sri Lanka lawmakers fiscally clueless: legal activist
Sept 22, 2009 (LBO) – Sri Lanka’s parliament lacked a permanent fiscal affairs committee paving the way for “mythical” budgets and lawmakers lacked capacity and research to constructively probe public spending and bodies, a legal activist has said. “Take, for example, the parliamentary oversight committee, COPE (Committee on Public Enterprises) tasked with dealing with all […]
Sri Lanka economic revival better than expected: IMF
Sept 22, 2009 (LBO) – Sri Lanka’s economic revival is better than originally expected when the International Monetary Fund approved a stand by loan, and tax revenues are improving, a review mission said in Colombo. The IMF was originally expecting 3.0 percent growth for the island for 2009 but has revised it up to 3.5 […]